The suspended Paypal personal payments to and from India issue will now last at least a few months! You read about how Paypal started reversing personal payments to and from India in the last few days and now pending some dispute with Indian regulatory authorities, a quick issue resolution does not seem possible soon.
Paypal made another offficial annoncement today to clarify the issue to Indian Paypal users.
1. Why did you suspend local bank transfers and personal payments to and from India?
We temporarily suspended these services to respond to enquiries from the Indian regulators, specifically questions on whether personal payments constitute remittances into India. We’re working with the regulators and our bank processing partners in India to get this resolved as quickly as we can.
2. When will personal payments be turned back on?
The regulators recently let PayPal know about revised licensing rules that we are now actively engaged in securing. Personal payments to and from India will be suspended for at least a few months until we fully resolve the questions from the Indian regulators.
3. When will local bank withdrawals be available?
Customers should be able to withdraw their funds to a local bank within the next few days. In the meantime, we’re going to restore the money into the PayPal accounts of any customers in India who have initiated a recent withdrawal, so they know that the money is safe in their accounts. Customers will also be reimbursed for any withdrawal fee charges.
If the payment was for a purchase of goods or services, and not a personal payment, then the buyer may resend the payment to the seller by following these steps on the PayPal website: (a) click the Send Money tab, (b) select ‘Goods’, and (c) provide a shipping address.
Paypal is an easy way to collect money from advertising programs and affiliate programs, and then online transfer to your bank account. Now either the publishers opt to accept money as a US dollar paper cheque and submit it to their banks with a few weeks processing time, or opt for a Paypal alternative.